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Italy 10-year yield rises above critical 7% level! *PIC*

Italy 10-year yield rises above critical 7% level ( 10YR_ITA ) (by William L. Watts)

FRANKFURT (MarketWatch) -- The yield on benchmark Italian 10-year government bonds moved above the critical 7% level widely viewed as unsustainable on Wednesday morning after clearing firm LCH.Clearnet raised margin requirements for trading Italian debt. The yield (it:10yr_ita) was seen at 7.09% in recent action, up 51 basis points from Tuesday, according to FactSet Research. Sustained yields above the 7% level would translate into borrowing costs that would make it difficult for Italy to maintain funding needs, strategists say.